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Making Market Experimentation More Educative Yet Less Costly
 The
brief:
A multinational giant planned to launch a brand of
aerated soft drink. Test market would take at least 5-6 months to show
signs of stabilization in sales for accurate estimation of market share.
This implied substantial investment and a risk of corporate image loss
in case of a failure.
PRISM Approach:
Use short term consumer panel of 500 target consumers
to track penetration (first time trial), repeat purchase rate (rate of
repeat trials) and consumption index (average consumption of the brand/average
consumption of soft drinks) through diary recording method. On stabilization
of repeat purchase rate, use Parfitt & Collin’s model to predict
likely Market Share within a much shorter period.
Results:
Likely Market share of 6% as predicted for the new brand in 9 weeks
time at an incredibly lower than conventional test market costs. Actual
market share after 5 months of launch stood at 5.8%.
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Cognitive
testing of questionnaires
PRISM is amongst the pioneers of introducing cognitive testing of
questionnaires in India. More |
The
Rasogulla- Idli- Scale
The rasogulla -idli- laddoo-vadapao scale is PRISM’s adaptation
of the standard semantic differential
More |
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